Episode 630

I bought a practice. Now what?

Host: Gary Takacs | Published Date: February 7, 2024 | Listening Time: 0:51:38

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Don’t let the topic fool you! No matter at what point you’re in dentistry, this episode is a must-listen.

The podcast covers four main measures to assess your practice and understand the importance of moving forward. Gary discusses how practice development is not always linear and shares key methods to develop your practice along with the consequences of leaving it idle.

He also shares a case study about one of his clients who now possesses a thriving practice owing to these techniques.

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    • 00:00:25 – Introduction
    • 00:01:46 – Announcements regarding upcoming events 

    Clinical Tip

    • 00:03:58 – Local Anesthetic Delivery for Kids by Dr. Jarod Johnson

    Coaching in Action

    • 00:06:28 – Introduction to the topic
    • 00:08:42 – Nature of practice development
    • 00:13:54 – What causes “plateaus” during practice development?
    • 00:19:41 – Importance of assessing what you currently have
    • 00:20:32 – #1 item to assess
    • 00:22:23 – #2 item to assess
    • 00:23:38 – #3 item to assess
    • 00:25:23 – #4 item to assess
    • 00:28:00 – Case study of a client who grew his practice by 35%

    Q&A segment

    • 00:29:06 – Brief recap on the topic of the episode
    • 00:29:40 –  Question 01 – The previous owner had a very limited range of services but in my past experiences as an associate, I had a wide range of services that I was able to provide. Which services would you recommend adding first?
    • 00:35:43 –  Question 02 – The previous owner did zero marketing other than signing up for PPO plans. Where would you recommend I start marketing?
    • 00:41:34 –  Question 03 – The practice I purchased has virtually zero technology. Where would you recommend I start adding technology to the practice?
    • 00:46:45 –  Question 04 – As I settle into practice ownership, let’s say I have a less-than-A team. Do I just ‘clean house’ and start building my team, or would it make sense to keep this team around for at least one recall cycle?


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    Gary Takacs

    Gary Takacs Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe.

    As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.

    More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!
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    Podcast Assistance by Jodey Smith, Rodecaster Expert